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DealBook: Morgan Stanley and Citigroup Reach Deal on Smith Barney

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Brendan McDermid/ReutersGregory J. Fleming leads Morgan Stanley Smith Barney, which is owned by Citigroup and Morgan Stanley. Morgan Stanley and Citigroup agreed on Tuesday to value their brokerage joint venture, Morgan Stanley Smith Barney, at $13.5 billion, allowing Morgan Stanley to buy full control of the business at a favorable valuation. That will set the [...]

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